NewTribe Capital makes a Strategic Investment in MRHB DeFi, the First Halal DeFi Platform

By BitMedia Buzz | Bit Media Buzz | 29 Sep 2021

Melbourne, Australia, Sep 29, 2021 —With nearly 2 billion Muslims across the world and 50 majority-Muslim countries, there is a clear and massive market for MRHB's unique blend of Islamic ethics with decentralized crypto finance. So far, institutional Islamic Finance appear supportive of MRHB DeF and its goal of a Shariah-compliant Halal-DeFi community.

MRHB DeFi has found its 7th institutional investor. It has expanded its network to include NewTribe Capital, a Venture Capital Private Equity Group, offering funds, networking and cross marketing support for the world’s first shariah-compliant DeFi (decentralized finance) ecosystem.

This comes after receiving crucial investments from Sheesha Finance, Acreditus Partners and EMGS Group, to name a few. All are onboard for MRHB DeFi’s mission to create a halal crypto-verse, underpinned by Islamic financial principles (shariah-compliance), inclusivity and community-focused blockchain. A way to conduct business that is free of usury, interest and unethical exploitation.

"The process and mechanism of a business activity is required to avoid Shariah prohibited elements such as interest (Riba), gambling (Maysir) and any ambiguity leading to dispute (Gharar). By stipulating these criteria, Shariah aims to eliminate the potential means of exploitation in business dealings." - MRHB DeFi Whitepaper

NewTribe Capital has similarly expressed its willingness to invest in such a vision. “Our philosophy is successful because we invest in relationships, not deals,” said, a Partner at NewTribe Capital, Dhaval Parikh. “Deals are simply transactions. We build exceptional relationships with companies that last, collaborating on projects with conviction.”

“We’re excited about collaborating with the highly successful NewTribe Capital team who share our long term visions for ethical DeFi. This relationship creates additional opportunities and industry connections that will drive more value for our community members. NewTribe has a proven track record of helping their partners succeed, and we are delighted to welcome them amongst other strategic stakeholders in our ambitious journey,” says Naquib Mohammed, MRHB DeFi Founder & CEO.

“This strategic alliance with NewTribe Capital is the latest institutional move by MRHB DeFi as we work to establish ourselves as the dominant player in the ethical decentralized finance space,” adds Mohammed.

Offering advisory, resources, legal and technical support, NewTribe also has a network of venture capital (VC), media, and global influencer partners. VC partners include Alphabit, A195 Capital, Draper Dragon and more. NewTribe Capital boasts a portfolio of more than 70 investments with an average ROI of 4.2x and more than USD20M assets under management (AUM). A fine addition to MRHB's collection.

About MRHB DeFi

MRHB DeFi is a halal, decentralised finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.

Based on the tenets of blockchain such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable principles of Shariah into those tenets of blockchain to render a suite of offerings. It is a complete DeFi ecosystem whose products, protocols and crypto-assets are governed primarily by the ethical, inclusive, sustainable and charitable investment principles associated with the Islamic faith or ‘Islamic Finance’ (‘IF’ as it is commonly known).

The diverse team is comprised of researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.

Read more about MRHB DeFi’s Shariah Concept Paper, Lite and White Paper here.

MRHB DeFi Official Channels

Website: https://marhabadefi.com

Twitter: https://twitter.com/marhabadefi

Telegram: https://t.me/mdf_official

Telegram Announcements: https://t.me/marhabadefi_ANN

YouTube: https://www.youtube.com/channel/UCHuvZG9DbS5ffeoqLX_bERg

Medium: https://medium.com/@marhabadefi

LinkedIn: https://www.linkedin.com/company/marhabadefi

Telegram (Arabic): https://t.me/mdf_arabic

Telegram (Russian): https://t.me/mdf_russia

Telegram (Turkish): https://t.me/MarhabaDefiTR